Kenmare Resources PLC

Kenmare Resources reported first-half shipments of 556,000 tonnes, putting it on track to exceed its full-year guidance of more than 1.1 million tonnes, as the company prioritizes converting finished goods inventory into cash amid weaker mineral sands pricing. Managing Director Tom Hickey said shipments are the highest priority in 2026, with ilmenite production now expected to be roughly in line with the 800,000-tonne guidance rather than above it, due to ramp-up issues at the WCP A plant including dredge performance problems and lower ore grades. Zircon prices strengthened materially on supply constraints, while ilmenite pricing softened. The company also boosted concentrates output through a new ZrTi product and continues talks with Mozambique over renewing its operating agreement, proposing $200 million of investment and a progressive royalty increase from 2.5% to 3.5% over 20 years.